Jagged Peak Overview A Leading Delaware Basin Pure Play Delaware Basin Large contiguous position in the deep, over-pressured oil window of the Delaware Basin 78,100(1) net acres with average WI 88% laid out in blocky, contiguous…
Asset Overview Three Concentrated Project Areas in the Oily Multi-Stack Portion of the Southern Delaware Multi-Stack Pay Potential Inventory Breakdown(1) JAG Acreage(2) 0 5 10 % Oil Lateral Length Miles Whiskey Cochise Cochise…
RESULTS FOCUSED EXECUTION
3-Year Annual Lookback Since 2017, JAG Has Generated Attractive Production, Cash Flow and Reserves Growth Average Daily Production Capital Expenditures versus Net Wells Turned Online 38.639.8 41.0 ( MM) 711.0 Equivalent Production…
Solid Operational Performance High-growth Oily Asset With Competitive Cost Structure Industry leading oil content drives 2Q19 vs. 2Q18 LTM Production Growth 2Q19 LTM Oil Content superior revenue (% growth) (% oil) 116% Established…
Attractive Corporate Level Returns Low-cost, High-margin Asset Base Drives High Return on Capital Employed (ROCE) Profitable wells coupled with attractive corporate margins drive strong full-cycle returns Oily asset base drives…
2019 PROGRAM EXECUTION
Second Quarter 2019 Highlights Continued Execution and Development Projects on Track Operational execution continued, DC&E costs inline; oil production on the upper end of guidance 2Q19 DC&E costs reduced sequentially to 1,250 per…
2019 Program Overview Weighted to Whiskey River and Cochise Development while Continuing Key Development Initiatives 2019 Operated Program JAG Acreage 5 rigs and 1-2 frac crews are expected to provide 54 gross operated 0 5 10 % Oil…
2019 Guidance Update Focused on Increasing Capital Efficiency, Prudent Growth, and Protecting EBITDAX Margin Capital Expenditures(1) (MM) Oil Production (MBbls/d) 653 617 36.5 30.6 31.1 215 32.5 140 29.4 310 29.3 143 167 185…
Drilling and Completion Efficiencies Improving Efficiencies to Drive Down Costs and Improve Returns Improving D&C Efficiencies DC&E Costs / Lateral Foot 1,385 2Q19 DC&E cost 1,450 averaged 1,250/lateral foot 830 743 758 679…
2019 Development Pads Initiating Development Projects in Cochise and Whiskey River Multi-Well Co-Development Project Placement Begin transition to multi-horizon co-development to optimize project returns Whiskey River Cochise…
Six-Well Coriander Project Stepping into Development Pads with Conservative Spacing Targets Whiskey River Coriander Whiskey River 3rd Bone Spring Upper Wolfcamp A Lower Wolfcamp A Wolfcamp B 1,320 Horizontal/Stack-Stagger…
Big Tex Delineation Program Encouraging Early Results from Wolfcamp A and Woodford Targets Wolfcamp A Target 10 Big Tex STATE BIG TEX SOUTH 7673-8 11H State Big Tex South 7673-8 11H Cumulative Oil (Mbo/1,000') Big Avg.Tex…
MAINTAINING A STRONG FINANCIAL POSITION
Strong Financial Position Company Maintains Ample Liquidity and Low Leverage Profile Borrowing base of 900 million with 540 million of Capitalization Table as of June 30, 2019 commitments in millions Cash and Cash Equivalents 25…
Hedging Update Current Hedge Book Protects Cash Flows Through 2020 With Capacity to Opportunistically Add More Hedges WTI Swaps Jagged Peak has hedged 40,000 59.95 59.95 58.75 58.75 58.75 58.75 Weighted Average WTI Oil Price…
Investment Case for Jagged Peak Top-Tier Asset, Peer Leading Returns 78,100(1) net acre contiguous position in the deep, over-pressured oil window of the Premier Asset in Southern southern Delaware Basin Extensive inventory of…
APPENDIX
Updated 2019 Guidance Focused on Capital Efficiency to Protect Strong Balance Sheet, Multi-Year Growth Story Remains Intact Capital Expenditures(1) (MM) 2019 Guidance Summary 711 653 Decrease DC&E costs by 2019 Guidance 617 15%…
Oil Takeaway Capacity Firm Sales and Transportation Contract Increases Flow Assurance and Mitigates Pricing Risk Regional Gathering & Transportation Overview Oil dominates production and revenue stream 2Q19 Production Volumes 2Q19…
Water Infrastructure Overview Owned and Operated Water Infrastructure Provides Operating and Cost Advantages Water infrastructure provides 100% of water Cochise Whiskey River requirements with significant capacity for future…
Thick Oil Column Significant Upside Beyond Current Target Zones Cochise University 2801 Whiskey River Collier 1201 Big Tex BTS 501 Brushy Brushy Brushy Avalon Avalon 1st Bone Lime Avalon 1st Bone Lime 1st Bone Lime 1st…
Second Quarter 2019 Operating Results Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 Production volumes: Oil (MBbls) 2,649 2,450 5,179 4,416 Natural gas (MMcf) 2,334 2,220 4,503 3,886 NGLs (MBbls) 444 325…
Non-GAAP Reconciliation The following tables provide reconciliations of the GAAP financial measure of Net Income (Loss) to the non-GAAP financial measures of Adjusted Net Income (Loss) and Adjusted EBITDAX, Three Months Ended Six…
Loading...
